First Merchants to acquire First Savings in $241M all-stock merger; exchange ratio 0.85

FIRST MERCHANTS CORP

All-stock transaction valued at ~$241.3M; FSFG shareholders receive 0.85 FRME shares per share, implied $33.60/FSFG share.
Deal expected to close Q1 2026; ~11% EPS accretion in 2027, tangible book value earnback ~3.0 years.
First Savings has $2.4B assets, $1.9B loans, $1.7B deposits; combined company assets ~$21B across IN, MI, OH.
Larry W. Myers (First Savings CEO) to join First Merchants Board of Directors upon closing.
Transaction approved by both Boards; requires First Savings shareholder and regulatory approvals.

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